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At the G20 forum, efforts to reform the WTO dispute settlement system should be prioritized to avert the acute Appellate Body crisis that looms in late 2019, Liu said. "China, as a major member of the WTO, will definitely benefit from the organizational reform," he added.

At the same time, Ankerbox is eyeing the huge passenger flows at train stations and airports, such as working with Beijing Railway Station, Guangzhou's Baiyun International Airport and Wuhan's Tianhe International Airport, in a bid to win over new customers.

At the end of 2019, 16 banks had received regulatory approval to start preparing for the establishment of their own wealth management subsidiaries, and 11 of them had already set up such companies, the report said.

At the same time, Tan said importers would also benefit from having the ability to exchange their PHP directly into RMB. "We export a lot of things to China as well like ore, so having that same capability will help," Tan said.

At the same time, the life span of aging people has grown rapidly, with the expected life time per capita expected to reach 79 by the year 2030.